If there ever was a frustrating time to be one of the biggest and fiscally solid TV broadcasting companies in the U.S., this would be it for Gray Television.
Its Q2 2019 net income beat the Zacks Consensus Estimate by three cents per share.
But, could its Q3 guidance be a bit lower than what the Street thinks? That may be the biggest reason why Gray shares were off 10.5% as company President/CEO Hilton Howell Jr. kicked off Gray’s Q2 earnings call on Wednesday morning, before rebounding in the PM hours.
